It makes me want to riot that we've allowed the presidents whole family to leverage their wealth on Bitcoin, its such an outrageous conflict of interest, literally with a few million up front you stand to become unbelievably wealthy by yanking the USD's reserve currency status.
Real monkeys paw action here tho because I always liked the idea of BTC as a viable alternate to USD, but, not like this.
As someone looking in at the USA from the outside, it absolutely blows my mind that the country went from “give up the peanut farm” to this: https://en.wikipedia.org/wiki/$Trump
It is genuinely amazing how fast it feels like it happened.
The whole monica lewisnky thing happened because there was an investigation into Clinton making maybe 100k off a partnership with a guy who later got arrested.
Granted that was over 20 years ago now, but like, hillarys emails???
Yes. Hillary's emails: brushed aside with the added cherry from the 'security' community saying that hosting your own email server for confidental emails is no big deal.
Regular people get charged for that level of violating regulations around classified information. They also get charged for having classified information in their bathroom or in their garage.
Yeah agreed. I'm not sure any civilian politician would really be charged for that type of violation though. Would've been nice if the DNC apparatus didn't downplay as if it didn't matter at all though: it does!
Note that this is actually quite different from the Mar-a-Lago case where Trump was asked to return documents, he said he did, then said he didn't have them, then asked people "what if we just said we didn't have them", then he was asked to return them again, and he said he didn't know anything about it.
corruption is one thing, I would call it merely unfair (unfortunately not illegal) to trade with inside information or by pulling strings. Crashing the dollar for personal gain, tho, it's practically treason.
BTC means they can pull wealth out of the system at astonishing rates. Trump & Co are hardly the first to be corrupt, but the scale, the blatentness, and the damage being done to the country as a byproduct is unprecedented in modern history
Bitcoin is arguably more public than stocks - all transfers are publicized. Transactions on major stock markets are publicized, but private transactions are not.
Worth noting that this whale has/had $10B worth of Bitcoin. So his $27M in profits is a whopping 0.27% gain while the rest of his portfolio dipped 10%.
I think Occams Razor. Here I think it’s way more likely that the person who holds 10B in Bitcoin somehow by now has contacts to the inner circle of US government as being someone in the administration.
I'm confused: why would you short BTC if you knew in advance that additional tariffs would be announced? Wouldn't you expect that to increase the dollar value of BTC due to depreciation of the dollar?
So if the government itself is the one holding the bitcoin then you can bet it won’t investigate itself… and a few billion in bitcoin wouldn’t even go very far if they tried to use it as a funding source which is wild to think about.
It makes me want to riot that we've allowed the presidents whole family to leverage their wealth on Bitcoin, its such an outrageous conflict of interest, literally with a few million up front you stand to become unbelievably wealthy by yanking the USD's reserve currency status.
Real monkeys paw action here tho because I always liked the idea of BTC as a viable alternate to USD, but, not like this.
As someone looking in at the USA from the outside, it absolutely blows my mind that the country went from “give up the peanut farm” to this: https://en.wikipedia.org/wiki/$Trump
Like… what!?
I have no words.
It is genuinely amazing how fast it feels like it happened.
The whole monica lewisnky thing happened because there was an investigation into Clinton making maybe 100k off a partnership with a guy who later got arrested.
Granted that was over 20 years ago now, but like, hillarys emails???
Yes. Hillary's emails: brushed aside with the added cherry from the 'security' community saying that hosting your own email server for confidental emails is no big deal.
That's not what happened. What they said is that it was definitely a violation, there did not appear to be a chargeable crime.
Regular people get charged for that level of violating regulations around classified information. They also get charged for having classified information in their bathroom or in their garage.
People like our current President. And former president. And former CIA director.
It seems like lots of high level officials are being irresponsible in handling condfidential information.
Either the rules are counter-intuitive, or difficult to follow, or officials are highly incentivized not to follow them.
But for some reason, lots of them aren't.
It makes public accountability very difficult.
Yeah agreed. I'm not sure any civilian politician would really be charged for that type of violation though. Would've been nice if the DNC apparatus didn't downplay as if it didn't matter at all though: it does!
Note that this is actually quite different from the Mar-a-Lago case where Trump was asked to return documents, he said he did, then said he didn't have them, then asked people "what if we just said we didn't have them", then he was asked to return them again, and he said he didn't know anything about it.
they would have profited anyway. be it stocks or forex. using btc only makes it public i guess?
corruption is one thing, I would call it merely unfair (unfortunately not illegal) to trade with inside information or by pulling strings. Crashing the dollar for personal gain, tho, it's practically treason.
BTC means they can pull wealth out of the system at astonishing rates. Trump & Co are hardly the first to be corrupt, but the scale, the blatentness, and the damage being done to the country as a byproduct is unprecedented in modern history
Stocks are public.
There's a been a lot of people doing moves ahead of other tariffs announcements.
Bitcoin is arguably more public than stocks - all transfers are publicized. Transactions on major stock markets are publicized, but private transactions are not.
Perhaps it makes the burden of proof for the accusation higher, though?
Worth noting that this whale has/had $10B worth of Bitcoin. So his $27M in profits is a whopping 0.27% gain while the rest of his portfolio dipped 10%.
I think Occams Razor. Here I think it’s way more likely that the person who holds 10B in Bitcoin somehow by now has contacts to the inner circle of US government as being someone in the administration.
I'm confused: why would you short BTC if you knew in advance that additional tariffs would be announced? Wouldn't you expect that to increase the dollar value of BTC due to depreciation of the dollar?
If only BTC were a decorrelated, alternative investment.
Why would you expect anything with BTC?
So if the government itself is the one holding the bitcoin then you can bet it won’t investigate itself… and a few billion in bitcoin wouldn’t even go very far if they tried to use it as a funding source which is wild to think about.
Expect to read about it here soon: https://www.quiverquant.com/congresstrading/politician/Nancy...
it’s hard to believe anyone in this administration would something so blatantly corrupt.
it's not hard*
that's the joke.png